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02/03/2010
Ashcroft 'Saved' £127m In UK Taxes
Liberal Democrats have accused 'non-dom' Tory peer Lord Ashcroft of saving more than £127m in British tax since he became a member of the House of Lords.
Lib Dem researchers said Lord Ashcroft’s annual tax saving is conservatively estimated to be £12.76m.
The deputy Conservative Party chair has been a member of the House of Lords for a decade. He ended years of speculation surrounding his tax status yesterday by declaring he was 'non-domicile'.
This means the peer - a major Tory donor, who is reportedly worth a billion pounds - pays some tax on his UK earners but nothing on his foreign interests.
Lib Dem Shadow Home Secretary, Chris Huhne said: "Anyone who wants to pass laws in this country should pay this country’s full taxes and not hide behind the special offshore status of non-doms.
"Non-doms have to tell the taxman that their first allegiance is to another country. No-one should be a British lawmaker whose first allegiance is not to Britain.
"On even the most conservative estimates, Lord Ashcroft has avoided vast amounts of British tax by deploying the non-dom tax dodge. If he challenges our estimate of how much tax he has dodged, then there is a simple solution: publish the figure."
Conservative leader David Cameron would still not be drawn today on how long he knew about Lord Ashcroft's tax status.
He welcomed the peer's disclosure, but said he always regarded it as a private mater between Lord Ashcroft and HM Revenue and Customs.
The author and philanthropist has said he would back a law which would require anyone sitting in the legislature – Lords or Commons – to be treated as resident and domiciled in the UK for tax purposes.
"I agree with this change and expect to be sitting in the House of Lords for many years to come," said Lord Ashcroft.
(PR/GK)
Lib Dem researchers said Lord Ashcroft’s annual tax saving is conservatively estimated to be £12.76m.
The deputy Conservative Party chair has been a member of the House of Lords for a decade. He ended years of speculation surrounding his tax status yesterday by declaring he was 'non-domicile'.
This means the peer - a major Tory donor, who is reportedly worth a billion pounds - pays some tax on his UK earners but nothing on his foreign interests.
Lib Dem Shadow Home Secretary, Chris Huhne said: "Anyone who wants to pass laws in this country should pay this country’s full taxes and not hide behind the special offshore status of non-doms.
"Non-doms have to tell the taxman that their first allegiance is to another country. No-one should be a British lawmaker whose first allegiance is not to Britain.
"On even the most conservative estimates, Lord Ashcroft has avoided vast amounts of British tax by deploying the non-dom tax dodge. If he challenges our estimate of how much tax he has dodged, then there is a simple solution: publish the figure."
Conservative leader David Cameron would still not be drawn today on how long he knew about Lord Ashcroft's tax status.
He welcomed the peer's disclosure, but said he always regarded it as a private mater between Lord Ashcroft and HM Revenue and Customs.
The author and philanthropist has said he would back a law which would require anyone sitting in the legislature – Lords or Commons – to be treated as resident and domiciled in the UK for tax purposes.
"I agree with this change and expect to be sitting in the House of Lords for many years to come," said Lord Ashcroft.
(PR/GK)
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Northern Ireland WeatherToday:A chilly start with a widespread frost and some freezing fog, any freezing fog slow to clear. Otherwise bright with sunny spells and coastal showers. Light winds. Maximum temperature 6 °C.Tonight:Coastal showers dying out with a widespread frost developing along with freezing fog, which could become extensive. Winds remaining light. Minimum temperature -3 °C.
